Turn your business idea into reality
Start or grow your own business with a government-backed Start Up Loan delivered by BEF. Borrow up to £25,000 at a fixed rate of 6% per annum. Repay over 1 to 5 years with no penalty for early repayment.
Apply for a loanWhat is a Start Up Loan?
Starting a business can be an exhilarating yet daunting journey. A crucial part of this journey is securing the necessary funding to bring your business idea to life. Start Up Loans offer a unique opportunity for aspiring entrepreneurs to turn their dreams into reality.
A Start Up Loan is a personal loan for business purposes for a term of 1 to 5 years at a fixed rate of 6% per annum. We can offer Start Up Loans to pre-start or businesses trading up to 36 months. Applications must be aged 18 or over at the time of the application. A credit check will be completed.
As a Business Support Partner for the Start Up Loans scheme, Business Enterprise Fund (BEF) support individuals based in Yorkshire and the Humber, and the North East.
Tailored financing with real impact
Borrow up to £25k
Secure the funds you need to start or grow your business with flexible loan amounts tailored to your needs.
Fixed interest rate
6% fixed. Take advantage of a low interest rate to help start or grow your business.
Flexible repayments
Enjoy flexible repayment options spanning 1 to 5 years.
Multiple applications
Up to four partners or directors can each apply for a Start Up Loan for the same business.
Take advantage of no arrangement fees, no early repayment fees, and up to 12 months of complimentary post-loan mentoring.
EnquireHow your Start Up Loan could look
For a Start Up Loan of £11,000 loan repayable over 5 years. 60 monthly payments of £212.66. Rate of interest 6% per annum fixed. Total amount of credit is £11,000. Total interest payable £1,759.60. Total cost of credit £1,759.60. Total amount payable is £12,759.60
Loans of up to £25,000 are available from the Start Up Loans Company. Rates and terms will vary for other loan products from BEF should you not be eligible for the loan. Further information, and terms and conditions are available on request.
Why should i consider a Start Up Loan
Start Up Loans are not just about financial assistance; they're a stepping stone to success. They come with numerous benefits, including:
Take your first step
Ready to take the first step towards your business dream? The process starts with a simple online application.
Why BEF is the right choice for your business
Why choose BEF? Since the Start Up Loan programme began in 2012, we've been a trusted partner for entrepreneurs. In the last year alone, we delivered 826 Start Up Loans, amounting to £9.5 million, which helped create 661 jobs and safeguard 602 more.
Our client-first approach sets us apart. We understand that every business is unique, and we tailor our support to meet your specific needs. You'll receive personalized assistance from a dedicated Investment Manager who is there to guide you. Our lending decisions are made by real people who take the time to understand your business, not by impersonal algorithms.
How to start your application
Start by visiting the Start Up Loans website to begin your application.
After a quick eligibility check, you'll be prompted to register your personal details and complete a credit check.
Provide your business details and supporting documents to give us a complete picture of your venture.
Once your submission is complete, one of our Investment Managers will review your application. Need assistance? Our Investment Management team is here to help at any stage.
Your frequently asked questions
Have questions? We have answers. If you don't see your question here then reach out to us via our contact page.